Zacks Investment Research Downgrades Oasis Petroleum Inc. (OAS) to Hold
Oasis Petroleum Inc. (NYSE:OAS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas. “
Several other research analysts have also recently weighed in on OAS. Raymond James Financial Inc. upgraded Oasis Petroleum from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $14.00 to $17.00 in a report on Friday, August 5th. Bank of America Corp. upgraded Oasis Petroleum from a “neutral” rating to a “buy” rating in a report on Monday, October 24th. Susquehanna upgraded Oasis Petroleum from a “neutral” rating to a “positive” rating and set a $11.00 target price on the stock in a report on Monday, August 1st. Jefferies Group restated a “buy” rating and set a $13.00 target price on shares of Oasis Petroleum in a report on Thursday, August 4th. Finally, Citigroup Inc. upgraded Oasis Petroleum to a “strong-buy” rating and boosted their target price for the stock from $14.00 to $17.00 in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Oasis Petroleum currently has a consensus rating of “Buy” and a consensus target price of $13.09.
Oasis Petroleum (NYSE:OAS) opened at 13.15 on Tuesday. The firm’s 50-day moving average price is $11.53 and its 200 day moving average price is $10.01. Oasis Petroleum has a 12-month low of $3.40 and a 12-month high of $13.50. The stock’s market capitalization is $3.11 billion.
Oasis Petroleum (NYSE:OAS) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. Oasis Petroleum had a negative return on equity of 2.98% and a negative net margin of 27.57%. The company earned $177.13 million during the quarter, compared to analyst estimates of $186.51 million. During the same period in the previous year, the business earned $0.09 EPS. Oasis Petroleum’s quarterly revenue was down 10.2% on a year-over-year basis. On average, equities analysts anticipate that Oasis Petroleum will post ($0.58) EPS for the current year.
In other Oasis Petroleum news, COO Taylor L. Reid sold 25,000 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $9.42, for a total value of $235,500.00. Following the completion of the transaction, the chief operating officer now owns 1,199,341 shares in the company, valued at $11,297,792.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Advisory Corp Spo sold 2,975,700 shares of the company’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $11.56, for a total transaction of $34,399,092.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. CSS LLC IL acquired a new stake in shares of Oasis Petroleum during the third quarter valued at $115,000. Usca Ria LLC acquired a new stake in shares of Oasis Petroleum during the third quarter valued at $118,000. IFP Advisors Inc increased its stake in shares of Oasis Petroleum by 0.9% in the second quarter. IFP Advisors Inc now owns 10,800 shares of the company’s stock valued at $101,000 after buying an additional 100 shares during the period. Stephens Inc. AR increased its stake in shares of Oasis Petroleum by 17.0% in the third quarter. Stephens Inc. AR now owns 11,700 shares of the company’s stock valued at $134,000 after buying an additional 1,700 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in shares of Oasis Petroleum during the third quarter valued at $135,000. Institutional investors own 72.41% of the company’s stock.
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About Oasis Petroleum
Oasis Petroleum Inc is an independent exploration and production company. The Company is focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. Its segments include Exploration and Production, which is engaged in the acquisition and development of oil and natural gas properties; Well Services, which performs completion services for the Company’s oil and natural gas wells operated by Oasis Petroleum North America LLC (OPNA), and Midstream Services, which performs salt water gathering and disposal and other midstream services for the Company’s oil and natural gas wells operated by OPNA.
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